According to the Commodity Market Analysis System of SunSirs, as the Spring Festival approaches, the soybean meal market is experiencing a significant surge, with an increase of over 3%. On January 20th, the average market price of soybean meal was 3,122 RMB/ton, and on January 23rd, the average market price of soybean meal was 3,222 RMB/ton, with a price increase of 3.2%.

Soybean meal market rebounds before the Spring Festival

Starting from January 20th, the overseas soybean futures market has been boosted, the domestic soybean meal futures market has risen, and the spot market has followed suit. Combined with the centralized shutdown and maintenance of soybean oil plants, the main trend is to raise prices, and the spot price of soybean meal continues to rise, with the market average price rising to 3,200 RMB/ton.

According to the agricultural product analyst of SunSirs, after the Spring Festival, soybean oil factories resumed operation one after another, putting pressure on the upward trend of soybean meal market in the future.

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